EUR USD Technical Analysis | EUR USD Trading: 2023-09-25 | IFCM
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EUR USD Technical Analysis - EUR USD Trading: 2023-09-25

EUR/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Below 1.0614

Sell Stop

Above 1.0736

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2374
RSI Neutral
MACD Neutral
Donchian Channel Neutral
MA(200) Sell
Fractals Sell
Parabolic SAR Sell

EUR/USD Chart Analysis

EUR/USD Chart Analysis

EUR/USD Technical Analysis

The technical analysis of the EURUSD price chart on daily timeframe shows EURUSD,Daily is declining after returning under the 200-day moving average MA(200) which has leveled off. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.0614. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.0736. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - EUR/USD

Euro area private sector contraction continued in September. Will the EURUSD price continue retreating?

Euro area private sector contraction continued at the end of the third quarter. SP Global report showed the flash reading of Eurozone Composite PMI Output Index came in at 47.1 in January after the 46.7 reading for August. Readings above 50.0 indicate industry expansion, below indicate contraction. For the second successive month, declines in output were seen across both manufacturing and service sectors as services activity decreased again. The overall reduction in output was again led by manufacturing against the background of waning demand as indicated by a fourth successive monthly decrease in new orders. Output in private euro zone sector has now fallen in four consecutive months. Falling business activity in euro area is bearish for EURUSD.

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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